LSR Group announces financial results for the first half of 2023
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29 August 2023
St. Petersburg, Russia – 29 August 2023 – PJSC LSR Group (“LSR” or the “Company”) (MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces its consolidated IFRS results for the first six months ended 30 June 2023.
1H 2023 Group’s Financial Results:
- Revenue reached RUB 74,809 million;
- Adjusted EBITDA reached RUB 19,628 million;
- Operating profit was RUB 12,825;
- Profit for the first six months of 2023 was RUB 1,735 million;
- Basic earnings per share was RUB 17.93;
- Cash inflow from operating activities was RUB 15,185 million[1];
- Cash balance of RUB 118,847 million, including cash on escrow accounts.
REAL ESTATE DEVELOPMENT AND CONSTRUCTION
|
|
St. Petersburg |
Moscow |
Yekaterinburg |
|
Completed (‘000 sqm) |
333 |
62 |
- |
|
New contract sales (‘000 sqm) |
244 |
84 |
53 |
|
Revenue (RUB m) |
33,639 |
22,458 |
5,494 |
|
Adjusted EBITDA (RUB m) |
12,601 |
6,296 |
903 |
|
Operating profit (RUB m) |
12,384 |
3,151 |
823 |
BUILDING MATERIALS
|
Sales volume |
Revenue (RUB m) |
Adjusted EBITDA (RUB m) |
Operating profit (RUB m) |
|
|
Total |
- |
11,306 |
2,440 |
1,898 |
|
Crushed granite, ‘000 m3 |
3,730 |
3,283 |
511 |
395 |
|
Sand, ‘000 m3 |
2,310 |
790 |
252 |
210 |
|
Ready-mix concrete, ‘000 m3 |
271 |
1,302 |
(22) |
(26) |
|
Bricks, million units |
143 |
2,354 |
916 |
677 |
|
Aerated concrete, ‘000 m3 |
369 |
1,652 |
571 |
472 |
***
The complete consolidated interim financial statements of LSR Group for 1H 2023 are available at https://www.lsrgroup.ru/en/investor-relations/ifrs-reports.